SURAT THANI, Thailand – Thai authorities raided several businesses on Koh Pha-ngan in Surat Thani province during a crackdown on alleged “nominee” business operations involving foreign investors using Thai nationals to hold shares on their behalf. The enforcement action was carried out under government policy led by Prime Minister Anutin Charnvirakul, targeting illegal foreign business structures and unlawful business activities.
The operation was led by the Department of Provincial Administration together with local administrative officers, police, and related agencies. Officials involved included Department of Provincial Administration Director-General Narucha Khosasilvilai, Koh Pha-ngan District Chief Paisit Thongjem, and Pol Col Apichat Chansamret, superintendent of Koh Pha-ngan Police Station.
The investigation led to the arrest of three hotel operators accused of operating businesses without licenses in violation of Thailand’s Hotel Act. Officials also uncovered company structures involving foreign shareholders that are suspected of using Thai nationals as proxies to conceal foreign ownership and bypass restrictions under Thai business law.
Investigators seized accounting records and shareholder documents for further examination of financial transactions, funding sources, and land ownership connected to the businesses. Enforcement operations will continue against foreign-operated businesses found to be violating Thai law or concealing their ownership structures. (NNT)
